The government has sought $180 crore loans from Islamic Development Bank (IDB) to implement 24 projects for 3 years, according to Planning Commission officials.
"IDB has provided $87 crore for 13 projects, the work on which continues since 2006," said a senior official at the Economic Relations Division (ERD). He said they expect IDB will provide $180 crore for 24 new projects. Usually, IDB provides loan at 2 per cent interest and its grace period is 7 years. If the new loan is sanctioned, Bangladesh has to repay it by 25 years.
Meanwhile, a high level 5-member IDB team arrived in Dhaka on Sunday on a 3-day trip to finalise Member Country Partnership Strategy (MCPS) programme for the second time. During their stay here, they will meet ERD, Planning Commission, Bangladesh Bank and Finance Ministry officials.
They are expected to sign a deal on loans, which will help implement Public Private Partnership (PPP) projects and lend funds to the private sector for improving the country's infrastructure, said an official.